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NM lawmakers consider changing film, TV subsidies

SANTA FE, N.M. (AP) -- A House committee is looking at possible changes in tax incentives for films and television series in New Mexico.

A 25 percent refund is provided for certain expenditures on film and TV production, but the state won't provide more than $50 million a year in tax incentives.

A proposal by House Majority Whip Antonio "Moe" Maestas, an Albuquerque Democrat, allows unused subsidies below the cap to be carried over to the next year. GOP Gov. Susana Martinez supporters a similar change.

Maestas also proposes to sweeten incentives for TV series that produce at least six episodes a year in the state — offering them a 30 percent refund rather than 25 percent.

The House Taxation and Revenue Committee is scheduled Monday to consider the legislation.